PETTY CASH BOOK
Hey Guys, It's a New Day again, hope your day
yesterday was awesome cos mine was. Well
for today we are beginning this course afresh like the others we are revisiting
what we have treated in order to better digest it.
Petty
Cashbook
is the book for recording small expenses. The rational behind the system is to
reduce the numerous cash payments for small expenses. Example- Postage,
Stationery, etc. The System for recording petty cash transactions is called Imprest System. In this system, a
specific amount is given to cashier to start off accounting period. This
specific amount is called Cash Float. The Source documents for petty cash book
are involved receipts and vouchers. At frequent intervals he must be reimbursed
for the cash disbursed for the period concerned thus bringing the cash balance
to the formal amount.
